Posted: Nov 14, 2012 9:00 AM by Irina Cates – KPAX News
Updated: Nov 14, 2012 9:09 AM
MISSOULA – Local economists say they are seeing improvements in the housing market, but the question remains as to whether or not it’s a good time to buy a home.
Missoula teacher Max Jacobson says he’s been looking for a house for the last year.
“I feel like right now, the market, you’re getting the most value for your dollar right now. And I feel like it’s kind of a buyer’s market,” he told us.
Missoula housing prices peaked in the spring of 2008, and hit the low point in the spring of 2011. But now University of Montana economists say they’re seeing improvements in the housing market and so are some realtors.
“We’ve seen an $11,000 increase in the average price of homes that sold. And you would think that would negatively affect the amount of transactions, but we have a 131 more transactions this year-at this point this year-than we did at this point last year,” Lambros realtor Cole Bergquist explained.
“It seems like in Missoula purchases are up significantly in the last year,” added First Security Bank Loan Officer Chuck Schmautz.
Bergquist says he’s also seeing more competition among buyers, which is good news for sellers.